Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Permian Basin Royalty Trust Stock Performance
Shares of Permian Basin Royalty Trust stock opened at $12.86 on Thursday. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $19.74. The firm’s 50-day simple moving average is $11.61 and its 200-day simple moving average is $11.59.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Schwartz Investment Counsel Inc. lifted its position in Permian Basin Royalty Trust by 23.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock worth $16,647,000 after buying an additional 262,233 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Permian Basin Royalty Trust during the second quarter worth $1,303,000. BWM Planning LLC acquired a new stake in Permian Basin Royalty Trust during the third quarter valued at $1,233,000. Moors & Cabot Inc. grew its stake in Permian Basin Royalty Trust by 23.3% in the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after purchasing an additional 87,080 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in Permian Basin Royalty Trust in the 3rd quarter worth about $837,000. 28.86% of the stock is owned by institutional investors and hedge funds.
About Permian Basin Royalty Trust
Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.
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